An official cited by Bloomberg:
- Trump will hold new China tariffs at 30%
- 10% baseline
- 20% fentanyl
- Total effective tariff rate will be 55%
I don't understand how the math here works.
Update from a Bloomberg reporter:
I'm told the "55%" he cites here is the status quo - no change from last month's truce. 10% baseline, 20% fentanyl and what Trump is calling ~25% for all the preexisting 301, MFN, etc tariffs, per an official.
